ST Index still riding high after Friday dent

GRAVITY always wins, quoth Radiohead. Well, local shares got the wind taken out of their sails on Friday after fresh worries arose over economic growth in the United States, weighing the benchmark Straits Times Index (STI) down by a relatively non-trivial 0.7 per cent.

The drop, of 20.54 points to 3,117.03, spelled an end to a two-day winning streak for the bourse, with losers outnumbering gainers 269 to 208 or about nine down for every seven up.

But that, at least, was a tad more movement compared to a lull early in the week around the Singapore government's release of its 2017 Budget on Monday, which some traders may have seen as uninspiring. Phillip Capital said in a note on Thursday that though the government said it would carry forward S$700 million worth of public infrastructure projects to start in FY2017 and FY2018, the value of the contra…